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3 Takeaways From Facebook's Oculus Connect Event

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3 Takeaways From Facebook's Oculus Connect Event

Morgan Stanley disclosed three key takeaways from Facebook Inc (NASDAQ: FB)'s Oculus Connect 3 developer conference where developers and other industry professionals took part. The firm thinks that VR is in the midst of early innings with the passing of software/hardware and that initiative would continue for its progress.

3 Key Takeaways

Analyst Brian Nowak cited the following three key takeaways:

  1. Primary focus is gaming. The analyst expects the touch controller, which would cost about $199, to be available in the market in December. There would be option for an extra sensor besides in-ear Rift headphones for additional costs. There would be about 35 video games as Oculus established alliance with Walt Disney Co (NYSE: DIS) and Blade Runner to offer fresh VR content.
  2. The second focus is on reducing consumer costs and boosts developer adoption. Facebook is developing a new standalone VR headset that does not require a PC. The brokerage said, "Oculus is also focused on its developer community, releasing a new VR software development kit, React VR, that will allow developers to build content for an upcoming Oculus VR web browser code-named Carmel. Continued developer support is critical to building out Oculus' VR ecosystem."
  3. VR is likely to emerge as non-gaming use. The analyst referred to developers' focus on education to help students improve their learning. The brokerage pointed out that the Royal College of Surgeons is teaching surgical methods with VR help.

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Pointing out the technological and pricing barriers, Morgan Stanley expects the adoption to take years.

The brokerage maintains its Overweight rating and target price of $160 on the stock.

At last check within the first 30 minutes of Monday's regular trading session, Facebook was up 0.63 percent at $129.80.

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Latest Ratings for FB

DateFirmActionFromTo
Mar 2020CitigroupMaintainsBuy
Mar 2020JP MorganMaintainsOverweight
Mar 2020WedbushMaintainsOutperform

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